Anchorage Capital Advisors acquired 11 U.S.-based collateralized loan obligation (CLO) management contracts currently managed by ORIX Advisers, a subsidiary of ORIX USA, under the brand name of Signal Peak Capital Management. Terms of the transaction were not disclosed.
Collectively, the vehicles represent approximately $4.7 billion in CLO AUM. Anchorage’s affiliate, Anchorage Collateral Management, will serve as collateral manager for the vehicles and rebrand each vehicle as “SP – Anchorage CLO [#].”
“This transaction meaningfully expands the scale of our global CLO platform,” Yale Baron, co-chief investment officer and co-managing partner of Anchorage, said. “With more than a decade of CLO management experience, Anchorage is well positioned to actively manage these portfolios and deliver value to our investors. ORIX USA has been an outstanding partner throughout this process, and we thank them for their trust, collaboration and commitment to a seamless transition.”
Soo Kim, head of liquid credit and partner of Anchorage, added, “We are excited to incorporate these portfolios and welcome Signal Peak’s investors to Anchorage. We look forward to bringing the full breadth of our credit research platform to these portfolios.”
Jeff Abrams, group head of private credit and real estate at ORIX USA, said, “This transaction reflects the continued evolution of ORIX USA’s investment management strategy and our long-term emphasis on private markets. We believe Anchorage’s established credit capabilities and CLO platform will provide a strong foundation for the continued management of these contracts, and we appreciate the collaboration of both teams in supporting an orderly transition.”
The Anchorage CLO and collateralized bond obligation platform now consists of 60 vehicles that hold in the aggregate approximately $26.09 billion in collateral obligations in the U.S. and Europe.
